British-Iranian businessman Farhad Moshiri has increased his majority shareholding in Everton to 77.2 per cent after acquiring the 8.6-per-cent stake held in the English Premier League football club by the Grantchester family.
This increase is consistent with the announcement of September 2018, when Moshiri increased his shareholding from 49.9 per cent to 68.6 per cent and confirmed that he expected that to increase to 77.2 per cent by no later than July 2019.
Moshiri became the largest shareholder in Everton in February 2016 after striking a deal to acquire a 49.9-per-cent stake in the club. Moshiri sold his stake in Premier League rival Arsenal to business partner Alisher Usmanov in order to complete the deal. He paid around £87.5m (€98.5m/$111.5m) for the shareholding, valuing Everton at £175m at the time.
Moshiri’s latest purchase means that Everton chairman Bill Kenwright retains around five per cent of the club’s shares, with the remaining 17 per cent held by other shareholders.
The announcement comes as Everton prepares to step up its plans for a new stadium by unveiling the designs of its proposed Bramley-Moore Dock facility during a second public consultation in July.
The consultation, which will run between July 26 and August 25, will seek public input on the latest design concepts for the waterfront stadium, and will demonstrate how the club will address the historic context of the Bramley-Moore Dock site and outline plans for the future of Everton’s current Goodison Park home.
Denise Barrett-Baxendale, Everton’s chief executive, has previously claimed more than 15,000 job opportunities will be created across the region from the stadium project, adding that the proposals will jump-start a £650m investment into regenerating the waterfront area.
Everton has stated it is targeting a capacity of 52,000 for its proposed new stadium, with the potential for it to rise to 62,000 in the future. Speaking earlier this week, Everton’s director of marketing, communications and community, Richard Kenyon, said: “If all progresses as expected this year with the stadium’s planning application, we will hopefully be playing at the new stadium in three years’ time.”
Goodison Park has served as Everton’s home since 1892 and is set to be redeveloped for community purposes when the club moves into its new stadium.